PUBLISHER: The Insight Partners | PRODUCT CODE: 1562404
PUBLISHER: The Insight Partners | PRODUCT CODE: 1562404
The Asia Pacific parenteral nutrition market was valued at US$ 861.59 million in 2022 and is expected to reach US$ 1,471.33 million by 2030; it is estimated to record a CAGR of 6.9% from 2022 to 2030.
New Product Developments by Companies Boost Asia Pacific Parenteral Nutrition Market
Companies operating in the parenteral medical nutrition market constantly focus on new product launches, which help them improve their sales. A few of the noteworthy developments in the parenteral nutrition market are mentioned below:
In 2023, Baxter Korea launched Olimel N12E, a protein-rich Total Parenteral Nutrition (TPN) fluid for critically ill patients.
In 2023, JW Holdings started exporting Winuf Central 736/1,085ml, a three-chamber total parenteral nutrition (TPN), on a large scale to Mongolia via AsiaPharma LLC, a local pharmaceutical company.
Thus, new product development of nutrition is anticipated to create opportunities for the market growth during the forecast period.
Asia Pacific Parenteral Nutrition Market Overview
China faces a high burden of stomach cancer due to the growing prevalence of H. pylori infection among the people. A study (2021) by the World Health Organization's International Agency for Research on Cancer (IARC) and partner institutions in the UK and China found that H. pylori infection is prevalent in China. Furthermore, H. pylori infection was the prime cause for 62.1% of cardia gastric cancer cases and 78.5% of non-cardia gastric cancer cases among adults over 30 years of age. This study by IARC estimated that ~340,000 cases of gastric cancer due to H. pylori infection occur in China every year. According to Global Burden of Diseases study published in October 2020, stomach cancer was among the top 10 causes of death in 2019. Similarly, according to the latest data from the International Agency for Research on Cancer (IARC), the estimated age-standardized incidence rate for stomach cancer in China is 20.58 per 100,000, and the crude rate is 33.06. As per the same source, the estimated number of new cases (aged 0-74) in 2020 for both sexes was 478,508. Thus, owing to the abovementioned factors, the market for parenteral nutrition is likely to witness remarkable growth in China during the forecast period.
Asia Pacific Parenteral Nutrition Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Parenteral Nutrition Market Segmentation
The Asia Pacific parenteral nutrition market is segmented based on nutrient type, end user, and country. Based on nutrient type, the Asia Pacific parenteral nutrition market is categorized into single dose amino acid solution, parenteral lipid emulsion, carbohydrates, trace elements, and vitamins and minerals. The single dose amino acid solution segment held the largest market share in 2022.
By end user, the Asia Pacific parenteral nutrition market is segmented into hospitals, clinics, and others. The hospitals segment held the largest market share in 2022.
Based on country, the Asia Pacific parenteral nutrition market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific parenteral nutrition market share in 2022.
ICU Medical Inc, Grifols SA, Pfizer Inc, Otsuka Pharmaceuticals Co Ltd, Baxter International Inc, B Braun SE, Fresenius Kabi AG, Aculife Healthcare Pvt Ltd, Sichuan Kelun-Biotech Biopharmaceutical Co Ltd, and Vifor Pharma Management AG are some of the leading players operating in the Asia Pacific parenteral nutrition market.